CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(In millions)

(Unaudited)

First Quarter of

2017

2016

Cash flow from operating activities:

Net Income

$    50.5

$    19.7

Adjustments to reconcile net income to net cash provided by operating activities:

Depreciation expense

8.9

9.1

Amortization expense

33.3

40.3

Provision for doubtful accounts

—

0.6

Deferred income taxes

0.2

(0.1)

Stock-based compensation

13.7

13.7

Income from equity method investments

(4.2)

(2.9)

Divestiture gain, net

(8.1)

(3.1)

Provision for excess and obsolete inventories

1.9

4.1

Other non-cash items

(2.5)

0.7

Decrease (increase) in assets:

Accounts receivables

(34.8)

(14.1)

Other receivables

3.9

(2.2)

Inventories

(2.3)

3.1

Other current and non-current assets

(8.0)

(4.9)

Increase (decrease) in liabilities:

Accounts payable

3.6

11.9

Accrued compensation and benefits

(14.7)

(13.5)

Deferred revenue

49.6

54.1

Accrued warranty

0.1

(0.7)

Other liabilities

11.8

(1.4)

Net cash provided by operating activities

102.9

114.4

Cash flow from investing activities:

Acquisitions of businesses, net of cash acquired

(79.2)

(15.8)

Acquisitions of property and equipment

(5.7)

(4.9)

Purchases of equity method investments

—

(0.4)

Purchases of short-term investments

(59.0)

—

Net proceeds from sale of businesses

19.2

8.1

Proceeds from maturities of short-term investments

24.4

—

Proceeds from sales of short-term investments

3.9

—

Dividends received from equity method investments

1.5

5.0

Other

0.4

(0.3)

Net cash used in investing activities

(94.5)

(8.3)

Cash flow from financing activities:

Issuance of common stock, net of tax withholdings

39.6

16.1

Repurchases and retirement of common stock

(14.2)

(12.2)

Proceeds from debt and revolving credit lines

252.0

92.0

Payments on debt and revolving credit lines

(226.1)

(147.0)

Net cash provided by (used in) financing activities

51.3

(51.1)

Effect of exchange rate changes on cash and cash equivalents

5.0

3.7

Net increase in cash and cash equivalents

64.7

58.7

Cash and cash equivalents - beginning of period

216.1

116.0

Cash and cash equivalents - end of period

$  280.8

$  174.7